Resolute Wealth Strategies LLC Buys New Stake in Trustmark Co. (NASDAQ:TRMK)

Resolute Wealth Strategies LLC bought a new stake in Trustmark Co. (NASDAQ:TRMK) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 9,220 shares of the financial services provider’s stock, valued at approximately $257,000.

A number of other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Trustmark by 70.6% in the fourth quarter. Victory Capital Management Inc. now owns 270,237 shares of the financial services provider’s stock valued at $7,534,000 after buying an additional 111,842 shares in the last quarter. Watershed Asset Management L.L.C. purchased a new position in Trustmark during the 4th quarter valued at about $286,000. Element Wealth LLC acquired a new position in Trustmark in the 4th quarter valued at about $246,000. Wedge Capital Management L L P NC increased its stake in Trustmark by 11.5% during the fourth quarter. Wedge Capital Management L L P NC now owns 24,137 shares of the financial services provider’s stock worth $673,000 after purchasing an additional 2,498 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Trustmark by 2,226.6% during the fourth quarter. Federated Hermes Inc. now owns 329,081 shares of the financial services provider’s stock worth $9,175,000 after purchasing an additional 314,937 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TRMK shares. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a report on Tuesday, January 23rd. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Trustmark in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded Trustmark from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $30.00 to $36.00 in a report on Thursday, April 25th. StockNews.com upgraded Trustmark from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Finally, Truist Financial lifted their price objective on Trustmark from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Trustmark presently has an average rating of “Hold” and a consensus price target of $32.75.

Trustmark Stock Up 0.9 %

Shares of TRMK stock traded up $0.28 on Friday, reaching $30.86. 304,497 shares of the stock were exchanged, compared to its average volume of 319,337. Trustmark Co. has a twelve month low of $18.96 and a twelve month high of $31.12. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 12.01 and a beta of 0.78. The business’s 50 day moving average price is $27.22 and its 200 day moving average price is $25.88.

Trustmark (NASDAQ:TRMK) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. Trustmark had a return on equity of 10.04% and a net margin of 13.82%. The business had revenue of $288.55 million for the quarter, compared to the consensus estimate of $187.03 million. During the same quarter in the prior year, the business posted $0.82 EPS. As a group, sell-side analysts expect that Trustmark Co. will post 2.77 earnings per share for the current fiscal year.

Trustmark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, May 31st. Trustmark’s dividend payout ratio (DPR) is currently 35.80%.

Trustmark Profile

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.